Norges Bank Takes Position in Silicon Laboratories, Inc. $SLAB

Norges Bank bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 428,524 shares of the semiconductor company’s stock, valued at approximately $56,008,000.

A number of other institutional investors have also recently added to or reduced their stakes in SLAB. Eurizon Capital SGR S.p.A. acquired a new stake in Silicon Laboratories during the fourth quarter worth about $110,000. Future Fund LLC lifted its stake in shares of Silicon Laboratories by 43.1% in the 4th quarter. Future Fund LLC now owns 11,878 shares of the semiconductor company’s stock valued at $1,552,000 after purchasing an additional 3,580 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Silicon Laboratories by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock worth $107,814,000 after purchasing an additional 7,921 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth about $561,000. Finally, Hantz Financial Services Inc. increased its position in Silicon Laboratories by 97.5% during the 4th quarter. Hantz Financial Services Inc. now owns 715 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 353 shares in the last quarter.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the transaction, the chief executive officer owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.43.

Silicon Laboratories Stock Performance

SLAB opened at $218.11 on Monday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $219.68. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of -142.56 and a beta of 1.37. The company has a fifty day simple moving average of $214.50 and a 200 day simple moving average of $181.60.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Silicon Laboratories Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.